7.6% GDP outlook is significant, says Shaktikanta Das

NEW DELHI: India’s growth projection for the current fiscal is “very, very significant”, Shaktikanta Das has said and promised more measures to boost economic growth. “India remains a bright spot amid the global slowdown. We live in a global village. Therefore, whatever happens in any part of the world affects us because India over the last several years is getting increasingly globalised,” economic affairs secretary Shaktikanta Das said on the finance ministry's YouTube channel on Monday.

The statement assumes significance as it comes just a week before the presentation of Budget 2016-17 by finance minister Arun Jaitley in the Lok Sabha.

It is expected that the government will focus on growth by increasing public spending as private investment stays muted due to an uncertain global environment. “There is uncertainty, volatility all around. I think amid when we are in a sea that is in turbulence, India is afloat,” Das said. “We were used to 8-9% growth, but given the problem the world is encountering, I think 7.6% growth is very, very significant.” “Growth is important because growth leads to job creation, growth leads to more opportunities, more economic activities which lead to more development,” he said.